BM Technologies Announces Purdue University Student as Recipient of 2023 BMTX Annual Financial Empowerment Scholarship Provided by the BankMobile Foundation

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BM Technologies, Inc. (NYSE American:BMTX) has selected Rachel Labi as the recipient of its eighth Annual Financial Empowerment Scholarship. Labi, a Purdue University student, was chosen out of over 700 applicants. The scholarship, provided by the BankMobile Foundation, rewards students who promote financial empowerment. Labi submitted a creative video explaining the importance of financial empowerment in her life and career. The scholarship covers tuition and is payable to Labi's university.

Rachel Labi, Co-Founder of Building Financial Freedom (B.F.F), Recognized for Empowering Youth and Young Adults Worldwide with Financial Literacy

RADNOR, PA / ACCESSWIRE / October 31, 2023 / BM Technologies, Inc. (NYSE American:BMTX), one of the largest digital banking platforms and Banking-as-a-Service (BaaS) providers, today announced that it selected Purdue University student, Rachel Labi as the recipient of its eighth Annual Financial Empowerment Scholarship out of over 700 applicants.

BMTX has an Annual Financial Empowerment Scholarship provided by the BankMobile Foundation. The scholarship was started in 2015 and rewards students who understand the important role that financial empowerment plays in life. Each year, a scholarship is awarded to one excellent undergraduate or graduate student who is blazing a trail and shaking things up in the world of financial empowerment, with 100% of the scholarship made payable to the award recipient's university or college to cover tuition.

The requirements to apply for the scholarship are submitting a creative video explaining the importance of financial empowerment in the applicant's life and career. Special consideration is given to those who are demonstrating an active role in promoting financial empowerment within their community.

The BankMobile Foundation serves as a platform to financially empower individuals by promoting financial literacy through scholarships and grants, sweepstakes, funding social entrepreneurs, and building strategic partnerships with organizations dedicated to advocating for financial education.

In a creative video submission, Rachel explained that she became aware in high school that only ten states required a standalone personal finance class. She learned about the significant disparities in financial education between socioeconomic groups, genders, and races. She had already advocated for a mandatory finance class to over 400 policymakers in Indiana, but she wanted to do more.

At age 17, Rachel co-founded Building Financial Freedom(B.F.F), which fosters global financial literacy in youth and young adults. She has collaborated with Global Money Week and Northwestern Mutual and was a Berkshire Hathaway conference speaker for Money Smart Week, which has educated over 200 individuals internationally. B.F.F. is in the process of obtaining 501(c)(3) status and is working with a local social services organization to provide financial education to low-income families.

Rachel Labi, the 2023 BMTX Annual Financial Empowerment Scholarship recipient, said, "I am thankful to BMTX for providing me the opportunity to fund my education. I am passionate about providing lasting economic stability and financial achievement in youth through education, giving them the tools to build an economically stable and thriving life."

Luvleen Sidhu, Chair, CEO, and Founder of BMTX, congratulated Rachel on her well-deserved honor as the BMTX Annual Financial Empowerment Scholarship winner. "Rachel exemplifies BMTX's mission to lead the way in financial empowerment. What she has accomplished is extraordinary, and she is actively promoting financial empowerment in her community and globally to help better society. I look forward to seeing the impact that Rachel will have in the future."

To learn more about the Annual Financial Empowerment Scholarship and how to apply for the 2023-2024 scholarship offered by the BankMobile Foundation, visit: https://www.bmtx.com/scholarship. BMTX will be accepting applications for its 2024 scholarship on November 1^st, 2023. Applications will be accepted until July 12, 2024.

Link to Rachel's submission video:

About BM Technologies, Inc.

BM Technologies, Inc. (NYSE American:BMTX) - formerly known as BankMobile - is among the largest Banking-as-a-Service (BaaS) providers in the country. It is focused on technology, innovation, easy-to-use products, and education with the mission to financially empower millions of Americans by providing a more affordable, transparent, and consumer-friendly banking experience. BM Technologies, Inc. (BMTX) is a technology company and is not a bank, which means it provides banking services through its partner bank. More information can be found at www.bmtx.com.

Contact:

Brigit Hennaman
Rubenstein Public Relations
bhennaman@rubensteinpr.com
212-805-3005

SOURCE: BM Technologies, Inc.

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FAQ

Who is the recipient of BM Technologies' Annual Financial Empowerment Scholarship?

Rachel Labi, a Purdue University student.

How many applicants were there for the scholarship?

Over 700 applicants.

What does the scholarship reward?

Students who understand and promote financial empowerment.

What were the requirements to apply for the scholarship?

Submitting a creative video explaining the importance of financial empowerment in the applicant's life and career.

What does the scholarship cover?

Tuition, payable to the recipient's university.